Central Bank of Cyprus announced that an additional subsidy of € 90 million

Central Bank of Cyprus announced that an additional subsidy of € 90 million

On Friday, the Central Bank of Cyprus announced that an additional subsidy of € 90 million as part of its program to counter the outbreak of coronavirus.

According to a CBC press release, the additional subsidy comes as a result of extending the phased introduction of the O-SIIs (Other Systemically Important Institutions) buffer for twelve months, according to a release of 90 million euros on January 1, 2021.

“The allocated funds can be used by credit organizations to cover potential losses and to finance the economic activities of companies to varying degrees,” added CBC.

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